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Contract Management for Pharmaceutical Companies

The recent global financial crisis brought with it a myriad of commercial risk exposures to organisations magnified by cancellations and variations to their commercial contacts with suppliers and clients.The level of strategic focus on contract risk management (CRM) is generally low and this in itself is a major risk for organisations, which they are now only beginning to slowly realise.The contracts became significantly more complex from a legal and technical perspective and organisations (whether private and public sector) simply have difficulties in identifying the increased volume of rights, obligations, therefore risks associated with the contracts, and mitigating these key risks “hot spots”.    A crucial problem facing senior management with commercial contracts is the very real possibility of an employee damning the organisation to a contractual noncompliance, through their day-to-day commercial operations, which might potentially result in catastrophic litigation.The inability to identify and mitigate risks can be very costly.Therefore this course seeks to help participant organisations reduce their risk exposure by helping them to get better value out of their contracts, less disputes and get what was promised by the other contracting party with less resources expended.

Turning 'Theory' into 'Practice'?

Driven by practice and theory, as well as case study and practical industry examples, this invaluable course will give you the foundation, methodologies, tools and techniques to succeed in contracting.It will help you to build a sound product strategy based on effective market analysis and an action plan ready to apply back in the workplace.

Who should attend?

In-house counsels/ legal counsels, Contract Lawyers/Attorneys, contract managers/heads of contracting/contract sourcing/contract management, commercial sourcing, contract negotiators, project managers/directors/leaders, sales contract professionals, contractors, procurement managers, risk managers

Key areas to be covered in the programme and documentation

Module 1:  Today’s Changing Risk Environment

·         Globalization and the digital economy

·         Corporate governance and regulation

·         Compliance in contracting

·         The importance of contract process and practices

·         Principles and ‘Best Practices’ in development, drafting and management

·         Negotiating for ultimate contract success – the guide for today’s commercial climate

 

Module 2: Risk Management ‘Hot Spots’

·         Cultural attitudes to risk

·         Industry variations in risk management maturity

·         Emerging methods that are used to handle these variations

·         Portfolio risk management

·         "Hot Spot' analysis

·         Risk mapping

·         Tools and processes to identify and prioritize contract risks

·         Building a corporate culture of mitigate and prevention, rather than correction

 

Module 3: Defining the Relationship and Contract Type

·         Primary types of contracts used in the pharmaceutical industry

·         Industry and geography considerations

·         Product and services contracts and key contract terms used in the pharmaceutical sector

·         Solutions, outsourcing, turnkey: Differences in approach and when to use them

·         Use of agents and representatives

·         Business consortiums, joint ventures, alliances and teaming agreements – the latest trend or not?

·         Cross border  and multi-national agreements

 

Module 4: Revisiting the Standard Terms and Conditions

·         Critical checklists

·         Differences of perspective: Buyer versus Seller

·         Contract Management versus relationship with Suppliers – Terms & Conditions

 

Module 5: Identifying and Managing Contractual Risks: Primary Sources and Methods of Control

·         Undefined or Under-defined Scope or Statement of Work (SoW)

·         Service Level Agreements

·         Risky agreements with key suppliers

·         Poorly defined change process

·         Inadequately defined acceptance terms

·         Right of termination for convenience

·         Most preferred customer clause

·         Liberal or conditional payment terms

·         Credit / Solvency risk

·         Currency risk

·         Potential for delays

·         Cost models in the pharmaceutical sector

 

Module 6:  High Risk Types of Contracts

·         Contract types that are common and unique to the pharmaceutical sector

·         Use of the other party’s standard Boilerplate Agreement

·         Software License Agreements

·         Letters of Intent (Memorandums of Understanding)

·         Agreements involving technology transfer or sharing – including intellectual property

·         Strategic Alliances (Teaming)

·         Sales contracts with “flow down” requirements

·         Master Service Agreements - templates, risks, flexibility

 

Module 7: Risky Terms and How to Handle Them; Limit of Liabilities / Remedies

·         Terms that are common and unique to the pharmaceutical sector

·         Intellectual Property and Software

·         Indemnity

·         Termination

·         Warranties

·         Force Majeure / Excusable delay

 

Module 8: The Role of Contracts and Contract Management in Assessing Risk

·         Understanding contracts that are intrinsically risky

·         Evaluating the situation

·         Identifying the risks

·         Assessing probability and consequence

·         Structuring effective risk assessment plan for contracts in your organization

·         Assessing Contractual Risks - The good, the bad and the ugly of contract risk

Module 9: The Role of Contracts and Contract Management in Managing Risk

·         Mitigation: Possible approaches and methods

·         Contract relationships and the impact they have on risk

·         Managing risk in the pharma sector through effective contract management

·         High risk terms

·         The role of negotiation

 

Module 10: Managing Risk through the Contract Life Cycle

·         Implementation

·         Managing changes and disputes

·         Arbitration, mediation and litigation

·         Acceptance and close-out

·         Disputes: How to avoid and win them

·         Successful contract administration – getting it right

·         Compliance with regulations, through effective contracting, in the pharmaceutical sector

Module 11: Some Final Guidelines

·         Understanding different legal systems

·         Using a risk identification checklist

·         Payment options

·         International considerations

 

Benefits to you

Identifying key risk “hot spots”

Developing a contracting and contract management strategy that serves as a competitive advantage

Drafting a user-friendly contract, re/negotiating and/or terminating the old ones to save costs

Mitigating financial and legal risk by implementing Contract Lifecycle Management

Minimising cost contingencies and variations

Avoiding risk of contractual noncompliance & gaining better service from contract partners

 • Identifying cost savings opportunities & Optimizing revenueprospects

Avoiding reputation damage caused by nonconformance with smart and cost-efficient CRM

Companies already benefiting include:

Duration of Course

2 Day Course

Course details

TBA, 2013

For more information about this course and upcoming course dates, please contact Emily Jones at emilyj@marcusevansch.com or call 312.540.3000 ext 6714

Looking to train larger teams in this subject?

 


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Further information

UK Enquiries: +44 (0) 203 002 3057
or dzingim@marcusevansuk.com

Non-UK Enquiries: +420 (0)2 5570 7246
or training@marcusevanscz.com

North American Enquiries: +1 312 540 3000 X6714 or emilyj@marcusevansch.com




Testimonials

"This course will allow my company to develop its existing strategies to a much greater and hopefully profitable level."

Managing Director, Tarmac